USD/CAD Technical Analysis August 2, 2011

The USD/CAD had a bullish day on Monday as the oil markets went back and forth. The pair looks like it is trying to bounce, and that would make sense as the market has fallen so hard over the last several months, and the 0.9450 area is such a major area that it was fitting to see another bounce from it. We are presently very neutral when it comes to this pair, but are willing to sell at higher levels such as the 0.98 or parity.

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